Legal & Licensing

Regulatory information about ZapPay Financial Services LLC

Federal Registration

Regulator: U.S. Department of Treasury, Financial Crimes Enforcement Network (FinCEN)
Registration Type: Money Services Business (MSB)
BSA Registration Number: 31000327144645
Status: Active

ZapPay's FinCEN MSB registration can be verified on the FinCEN MSB Registrant Search at fincen.gov/msb-registrant-search.

State Licensing

Regulator: Virginia Bureau of Financial Institutions (BFI)
License Type: Virginia Money Transmitter License (MTL)
Status: Application Pending

Public customer service will commence following license issuance. ZapPay is not currently accepting customer funds for transmission; the Service is available on a limited basis for onboarding, testing, and regulatory verification purposes during this pre-launch period.

Surety Bond

ZapPay maintains a $1,000,000 surety bond in compliance with Virginia money transmitter requirements, issued by Arch Insurance Company (Bond Number SU 7125557-0000) through Propeller Bonds.

Planned Service Corridors

ZapPay is building the capability to serve up to fifty-seven (57) international corridors. Initial service will focus on the following high-volume corridors:

🇳🇬 Nigeria 🇬🇭 Ghana 🇰🇪 Kenya 🇵🇭 Philippines 🇮🇳 India 🇲🇽 Mexico 🇬🇧 United Kingdom

Additional corridors will become available on a rolling basis following operational and regulatory readiness in each jurisdiction.

Compliance Program

ZapPay maintains a Bank Secrecy Act / Anti-Money-Laundering ("BSA/AML") compliance program that includes:

A designated Bank Secrecy Act Officer responsible for compliance oversight.
Customer identification (KYC) and customer due diligence (CDD) procedures.
Enhanced due diligence (EDD) for high-risk customers and corridors.
Real-time OFAC and sanctions screening on every transaction.
Transaction monitoring and filing of Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) as required by law.
Annual independent review of the compliance program.
Ongoing employee and agent training on BSA/AML obligations.
Record retention in accordance with federal and state requirements.

Regulatory Contacts

If you have a regulatory concern that you believe has not been adequately addressed by ZapPay, you may contact:

Virginia Bureau of Financial Institutions: scc.virginia.gov
U.S. Consumer Financial Protection Bureau: consumerfinance.gov/complaint
FinCEN: fincen.gov

Contact ZapPay

General support: [email protected]
Compliance & regulatory: [email protected]
Privacy: [email protected]
Mailing address: P.O. Box 2801, Woodbridge, VA 22195